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Weighted-Average Shares Outstanding On January 1, 2020, Lincoln Company had 600,000 shares of $10 par common stock outstanding.During 2020, Lincoln had the following transactions that
Weighted-Average Shares Outstanding
On January 1, 2020, Lincoln Company had 600,000 shares of $10 par common stock outstanding.During 2020, Lincoln had the following transactions that affected the common stock account.
March 1Issued 100,000 shares
May 1Issued a 20% stock dividend
July 1Acquired 60,000 shares of treasury stock
September 1Reissued 40,000 shares of treasury stock
November 1Issued a 2-for1 stock split
Instructions:
Compute the weighted-average number of common stock shares outstanding as of December 31, 2020.
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